June 9 (Reuters) - Pfizer ( PFE ) and other drug
companies have met with the Trump administration to discuss
lowering U.S. drug prices but no commitments have been made,
Chief Executive Albert Bourla said on Monday.
The meetings focused on high-level ideas and were not
digging into any substance yet, Bourla said, speaking at Goldman
Sachs' Global Healthcare Conference.
"The meetings were cordial, but they were not digging into
the substance," Bourla said.
President Donald Trump last month issued an executive order
directing drugmakers to lower the prices of their medicines to
align with what other countries pay, but legal experts have said
the policy will be difficult to implement.
The Department of Health and Human Services has said it
expects drugmakers in the U.S. to set prices for their products
at the lowest price it receives in countries that have a gross
domestic product per capita of at least 60% of U.S. per-capita
GDP.
Bourla said he is hopeful that, given U.S. pressure on
European countries to pay more, prices there could increase. He
said that if the U.S. resorts to price controls, Pfizer ( PFE ) could
consider not making drugs available for government reimbursement
in some countries if prices don't increase there.
"I don't think we will remove our products from the
markets there - we will just remove them from reimbursement,"
Bourla said. "We will leave them in open market."
(Reporting by Michael Erman in New York, and Bhanvi Satija and
Mariam Sunny in Bengaluru; Editing by Anil D'Silva and Chizu
Nomiyama)